Customer relationship management (CRM) refers to the processes and technologies used to manage relationships with customers. It involves tracking customer interactions across sales, marketing, customer service, and other functions. The key components of CRM include contact and account management, sales, marketing and fulfillment, customer service and support, and retention and loyalty programs. CRM systems allow companies to better understand customer needs and provide personalized customer experiences.

2. Group members

3. CRM3Customer Relationship Management

4. Term applied to processes implemented by a company to handle its contact with its customers

5. It is process or methodology used to learn more about customers' needs and behaviors in order to develop stronger relationships with them.

6. set of methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way.

7. CRM is a software-based approach to handling customer relationshipsComponents of CRM

8. Contact and Account ManagementRelevant data for customer profile is captured with the help of software. Necessary information is captured from prospective customers.CRM system stores data in common customer database. The database integrates customer account information and present it in desirable format to the company. This database can be accessed on Internet, intranet and on other network links. The data is used for sales, marketing, services and other applications.The contact management software contains various modules of databases, displays, charts, workflow programs.

9. SalesSales process management follows a customized sales methodology with specific sales policies and procedures.Sales activities include - Product information, product configuration, sales prospectus, sales quote generation. CRM also provide the history of customer account so that the sales call can be scheduled accordingly.

10. Marketing and FulfillmentCRM helps the professionals in product marketing, target marketing, relationship marketing and campaign management. By analyzing customer and business value of direct marketing can be estimated.CRM also helps in customer retention, behavior prediction, channel optimization, personalization.Customer response and requests can be quickly scheduled and hence sales contacts.

11. Customer Service and SupportCRM system provides service representatives with adequate software tools and access to customer database. It also helps to create, assign and manage the service requests by customers.Call center software is designed to route customer calls to respective attendants as per the skills and authority to handle special cases.Help desk software is developed to help customer service representative to help customers who face problems with product or service to resolve it.Web-based Self Service means help customer to access personalized information at company website.

12. Retention and Loyalty programsThe primary objective of CRM is to enhance and optimize customer retention and loyalty.CRM systems are also useful in determining most loyal and profitable customers and reward. CRM analytical software includes determining tools and analytical marketing software whereas CRM databases consists of customer data ware house and CRM data marts.

13. Phases of CRM

14. Acquisition :techniques used to form relationships with new customers to achieve an online sale. For achieving this special CRM software tools and databases are used.The main purpose of this CRM function is to make aware the customer about the superior product by a distinguished company.

15. Enhance to keep customer satisfied and happy to offering superior service from specialists.The profitability of the business is increased by CRM sales for a automation and direct marketing.The customer experience the convenience of one stop shopping at reasonable prices.

16. Retention Customer retention refers to the actions an organization takes to retain existing customers i.e. the techniques to maintain relationships with existing customer.The customer retention has two distinct goals. 1. To retain customers of the organizations (repeat customers). 2. To keep customers using online channel (repeat visits).

17. Implementation of CRM

18. Customer relationship management (CRM) solution is best treated as a six-stage processStage six: Enhancing the customer experienceStage five: Marketing more effectivelyStage four: Analysing Customer behaviour Stage three: Accessing informationStage two: Storing informationStage one: Collecting information

19. Example: DELL

20. TYPES OF CRMThere are following types of CRM1.OPERATIONAL CRM2. SFA3.Analytical CRM4.COLLABORATIVE CRM5.GEOGRAPHIC CRM

21. OPERATIONAL CRMOperational CRM processes customer data for a variety of purposes:'Managing Campaigns' Enterprise Marketing Automation Sales Force Automation Sales Management System

22. SALES FORCE AUTOMATIONSales Force Automation automates sales force-related activities such as:Activity Management: Scheduling sales calls or mailings Tracking responses Generating reports Opportunity Management and Assessment Account Management and Target Account Selling

23. ANALYTICAL CRMAnalytical CRM analyzes customer data for a variety of purposes:Designing and executing targeted marketing campaigns Designing and executing campaigns, e.g. customer acquisition, cross-selling, up-selling Analysing customer behavior in order to make decisions relating to products and services (e.g. pricing, product development) Management information system (e.g. financial forecasting and customer profitability analysis) Analytical CRM generally makes heavy use of data mining.

24. COLLABORATIVE CRMCollaborative CRM covers aspects of a company's dealings with customers that are handled by various departments within a company, such as sales, technical support and marketing. Staff members from different departments can share information collected when interacting with customers. For example, feedback received by customer support agents can provide other staff members with information on the services and features requested by customers. Collaborative CRM's ultimate goal is to use information collected by all departments to improve the quality of services provided by the company.

25. Geographic CRMGeographic CRM (GCRM) combines geographic information system and traditional CRM. Geographic data can be analyzed to provide a snapshot of potential customers in a region or to plan routes for customer visits.

26. Related aspectsMany inter-related aspects

27. Front office operation

28. Back office operations

29. Business relationships

30. Analysis 23

31. Aspect 1 – Front officeDirect interaction with customers

32. Face to face meetings

33. Phone calls

34. E-mail

35. Online services etc24

36. Aspect 2 – Back officeOperations that ultimately affect the activities of the front office

37. Billing

38. Maintenance

39. Planning

40. Marketing

41. Advertising

42. Finance

43. Manufacturing25

44. Aspect 3 - Business relationshipsInteraction with other companies and partners

45. Suppliers/vendors

46. Retail outlets/distributors

47. Industry networks 26

48. Aspect 4 - AnalysisKey CRM data can be analyzed in order to plan

49. Target-marketing campaigns

50. Conceive business strategies

51. Judge the success of CRM activities (e.g., market share, number and types of customers, revenue, profitability)27

52. Elements of CRM

53. Three key elements1. Validation

54. 2. Discovery

55. 3. Action29

56. 1. ValidationCorrect data

57. Ensuring that the data of the customers is correct

58. Example:-Mobile number30

59. 2. DiscoveryUse of data mining techniques

60. To find relationships that you did not know existed

61. Data mining is an important enabler for CRM

62. Helps in the process of understanding a customer by providing the necessary information

63. Facilitates decision-making.31

64. 3. ActionRight communication

65. Right messages communication

66. This is done with a Campaign Management tool that can automatically select the right targets and the right messages via the right channels

67. The responses are then fed back into the Validation process for evaluation and refinement32

68. What is the status of CRM adoption in India?Indian companies were slow in adopting CRM. One of the major reasons for this has been a lack of proper understanding of CRM as a concept and how it could benefit an organization. In the past, CRM was identified with call centers. However, this has changed in recent times with a better understanding of the various components of CRM and increased awareness levels of how it can drive efficiencies across the board.

69. DIFFERENT SECTOR CRM IN INDIAIT & TELECOM SECTORHOSPITALITY SECTORFINANCE SECTORRAILWAYSTRAVELS AGENCIESINSURANCE SECTORBANKING SECTOROTHERS

71. What are the reasons for service sectors being early adopters of CRM?Increased competition in the sector meant that organisations had to think of more innovative ways to acquire and retain customers. This sector has seen more investments in IT infrastructure which is an enabler for applications.

72. Though back-end systems are always important for smooth functioning of systems, for the service sector it is also important to have a user-friendly interface. Many companies in this sector have adopted CRM before investing in ERP. Verticals in the services sector include retail and commercial banks, brokerages, insurance, mutual funds, IT services, BPO, hospitality, travel, media and logistics.CUSTOMER RELATIONSHIP MANAGEMENTCRM is the strategic use of information, process, technology, and people to manage customer’s relationship with your company (marketing, sales, services and support ) across the whole customer life cycle.Although our definition of CRM is broad and complex but its goal is simpleTo maximize the value of your company’s customer asset. includingCustomer loyalty

73. Company’s revenue

74. Company’s profit THE CUSTOMER LIFE CYCLEUpgrade/retireAwareinvestigationMaintainConsiderUseEvaluate/ChoosePurchaseLearnSetupInstallOrder

75. CUSTOMER LIFE CYCLEThe customer life cycle is total time that a customer is engaged with your company from the customer’s experience and viewpoint. There is high level of cycle that is consistent for customers, no matter the product or services and no matter how much how much the customer spend on each stage; 1. Consider: Customer becomes aware of need and investigates alternative solution.2.Purchase: Customer evaluates and chooses the best alternatives and place an order.3. Set up: Customer install the product and learn how to use it.4. Use: Customer operates and maintain the product and finally makes the decision to retire it or upgrade, which starts the cycle all over again.

76. Building Customer Relationships1:1 A major shift in marketing thought:

77. from mass marketing to individualized marketing

78. From focus on acquiring lots of new customers to retaining and building more business with fewer loyal high-value customers

79. Goal: build long-term relationship, 1:1

80. A firms ability to build and maintain relationships with customers, suppliers, and partners may be more important than the firms land, property, and financial assets.

81. The key: Treat customers like friendsRelationship Marketing“Establishing, maintaining, enhancing, commercializing customer relationships through promise fulfillment”Building long-term profitable relationships with mutual benefitTool: promise fulfillment => customer satisfactionDomino’s Pizza ads claim 30 minute delivery of pizza’s.

82. Pizza example Subconscious Expectations

83. Pizza with specified toppings

84. Take 10 minutes

85. Come in a packed box

86. Remain warm till you reach home

87. Charges – standard and acceptable price

88. Pizza will taste reasonably good

89. You will come back is all the above are metPizza example If you go regularly

90. Rapport with employees

91. You forgive if they mess up with one or two expectations

92. Degree of confidence determines tolerance

93. If using first time, and even one expectation is not met

94. You will never go againPizza example Exceeded expectationsDeliver on all expectationsGive you a garlic bread FREE !You will tell everyone about it

95. CRM Processes and Systems

96. Processes & Systems46

97. Processes & SystemsImportant

98. Business starts with the acquisition of customers

99. However, any successful CRM initiative is highly dependent on a solid understanding of customers47

100. 1. Understand & differentiateUnderstand

101. Demographics, purchase patterns & channels

102. Segmentation to identify logical unique groups

103. Primary research to capture needs and attitudes

104. Customer valuation to understand profitability

105. Differentiate

106. Based on the value customers are expected to deliver48

107. 2. Develop & CustomizeDevelop

108. Products, services, channels and media can be customized based on the needs of quantitative customer segments

109. Customize

110. Based on the potential value delivered by customer segment49

111. 3. Interact & DeliverInteract

112. Not just through marketing, sales and media

113. Distribution, shipping, customer service & online

114. Deliver

115. Delivering value is a cornerstone

116. Factors including quality, convenience, speed, ease of use, responsiveness and service excellence50

117. 4. Acquire & RetainAcquire

118. Learning about customers makes it easy to identify those producing the greatest value

119. Retain

120. Maintain interaction;

121. Deliver on value

122. Customers change as they move through differing life stages

123. Modify the service51

124. eCRM eCRM provides to companies a means to conduct interactive, personalised and relevant communication with customers across both electronic and traditional channels.

125. It utilises a complete view of the customer to make decisions about messaging, offers, and channel delivery.eCRM v/s CRM: The DifferencesBeing able to take care of your customer via the Internet, or, customers being able to take care of themselves online: That’s the difference between CRM and eCRM.

126. The Need to Adopt eCRMCompanies need to take firm initiatives on the eCRM frontier to Optimize the value of interactive relationship.Enable the business to extend its personalized messaging to the Web and e-mail.Co-ordinate marketing activities across all customer channels.Leverage customer information for more effective eMarketing and eBusiness.Focus business on improving customer relationship and earning a greater share of each customer’s business through consistent measurement, assessment and “actionable” customer contact strategies.

127. Benefits of CRM

128. CRM : BenefitsExcellent customer service is about being aware of customer needs and reacting to them effectively.CRM helps you to understand, anticipate and respond to your customers' needs in a consistent way, right across organization.CRM will help your business if you view it as a set of tools that let you do more for, and get more from, your customer. Keeps all your customer information in one place.Know and understand your customers.Know your best revenue opportunities.Spot the best sales campaigns.

129. Advantages Of CRMUsing CRM, a business can : Provide better customer service Increase customer revenues Discover new customers Help sales staff close deals faster Make call centers more efficient Simplify marketing and sales processes

130. Challenges of CRMProblems of collecting and coordinating substantial data can lead to privacy problems.Firms still need to be sensitive to customer wishes about unsolicited contacts. Customer privacy request needs to be a part of CRM.Privacy and data security One of the primary functions of CRM software is to collect information about customers. When gathering data as part of a CRM solution, a company must consider the desire for customer privacy and data security, as well as the legislative and cultural norms. Some customers prefer assurances that their data will not be shared with third parties without their prior consent and that safeguards are in place to prevent illegal access by third parties.

131. CONCLUSION